The letter says 100 percent of their buyout could be covered for them. The town of Vestal will front all costs and then be reimbursed by a combination of money from the Federal Emergency Management Agency and New York state. But, choosing to participate in the buyout is still up to individual homeowners.

"I hope they're as happy as the board and I are," said Schaffer, "That we could finally bring this closer to closure. They get their finances in order and move on. Most of them stayed in Vestal, by the way, which is great for our community."

Schaffer said homeowners can expect to see their money within a month of filling out the mailed letters.

"I don't have a time table on the payoffs, but it will be quick," Schaffer said. "Everything's ready, we've done everything that could possibly be done to make sure they get their money as quickly as they can."